Oil: Might have bottomed here, next week the downtrend expires

2017年6月23日

As discussed in the KHL chatroom, it is likely that oil has bottomed here, considering the sentiment extreme and the situation in Saudi Arabia, with Mohammed Bin Salman appointed as the next in line for the throne, replacing his uncle: bloomberg.com/news/articles/2017-06-21/saudi-arabia-names-mohammed-bin-salman-as-crown-prince-j46gx3nq
This is an interesting signal in its own right, maybe signaling a bottom, which Tim West pointed out as logical. Sentiment is very negative, with analysts claiming oil is basically a 'worthless commodity'...do your own due diligence.

Good luck!

Ivan Labrie.

2017年6月26日

註釋

Excellent action here:

2017年6月27日

註釋

Looks good.

2017年7月4日

註釋

Excellent so far...but, USOIL has 2 more days to hit 47.80 or it might slow down, and maybe retrace for a while Resistance at 47.41-47.54

2017年7月7日

註釋

Retraced, we can reenter/add back to it here:

2017年7月9日

註釋

zerohedge.com/news/2017-07-08/when-facts-change-oils-biggest-cheerleader-capitulates-andy-halls-full-bearish-lette USOIL chart This mihgt be a bottom here...

2017年7月14日

註釋

It was a bottom there...I cut my long in half after adding on the recent lows a day ago. The trendline break brough in technical buyers, but if we don't hit 47+- today, there's a chance to go back to support at 45.30. The market probably won't breakout sharply before July 24th. -OPEC/Non-OPEC meeting date-

2017年7月14日

註釋

2017年8月18日

註釋

The rally continues:

2017年10月28日

註釋

This idea has so few likes...shame on my followers haha.

...

jk

...

seriously...

2018年1月28日

註釋

USOIL very close to target #1, considering sentiment, I am cautious here, we could short it against our equity holdings if needed